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MAGNETECH ANNOUNCES NEW PLANT EXPANSION INTO THE MIDWEST

 MAGNETECH ANNOUNCES NEW PLANT EXPANSION INTO THE MIDWEST
 FORT LAUDERDALE, Fla., March 17 /PRNewswire/ -- Magnetech


Corporation (NASDAQ: TAPE) announced today plans to build a new state-of-the-art high-speed video duplicating facility in Indianapolis. According to Jack Brown, president of Magnetech, the new plant will utilize the latest technology Sony Sprinter high speed duplicators along with fully automated labeling and packaging equipment. When completed the new facility will represent an estimated $1.5-$2 million investment for the fast-growing Florida- based duplicator of video programs. The Indianapolis location was prompted by recent successful negotiations with one of the world's leading record and video tape companies to service their high-speed video duplicating requirements.
 Magnetech expects to have the new plant operational before June 1 of this year.
 Magnetech also reported eight-month earnings:
 MAGNETECH CORPORATION
 FINANCIAL HIGHLIGHTS
 Eight Months Ended Feb. 28,
 1992 1991
 Net Sales $3,308,889 $1,944,074
 Gross Profit 958,638 522,331
 Sales, Gen'l. & Admin. 379,787 266,271
 Income Before Depreciation
 and Taxes 578,851 256,060
 Depreciation 200,000 140,000
 Income Taxes 110,000 26,000
 Net Income $ 268,851 $ 90,060
 -0- 3/17/92
 /CONTACT: Donald E. Courtney of Magnetech Corporation, 305-835-2214/
 (TAPE) CO: Magnetech Corporation ST: Florida IN: SU: ERN


AW-SS -- FL004 -- 8656 03/17/92 09:09 EST
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Date:Mar 17, 1992
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